The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-07-17

One of the most curious developments of
practical life in New York is the phrase of
the legal profession known as the railroad
or financial lawyer. The traditional bar
rister of the old English style, wizened and
withered by the study of parchments by
the midnight oil, is very far from the
vigorous generous and practical character
that yields so much direct influence in the
great movement of affairs in New York
city to-day. The fact is that the develop
ment of our railroad system has required
and produced new species of legal advisers
who are familiar with their professional
speciality and who are otherwise capable of
suggesting original means and methods to
their clients. In this way they become
interested parties, as well as counsel, in the
schemes promoted by financiers Of the day.
Talking with some of the parties interested
i'll the recent Pacific Railroad Investigation,
| was told of an incident in Mr.. Edward L..
Andrews career which at once illustrates
his peculiar kind of capacity and at the
same time exhibits the wonderful shrewd
ness of Jay Gould in picking out men. 1t
seems that Mr.. Andrews, who is one of the
most prominent lawyers in town, had
brought foreclosure suit for some English
clients against the Kansas Pacific at time
when Gould was also fighting that concern.
Gould saw the papers in that suit, admired
the way they were drawn, and then obtained
from Mr.. Andrews an opinion on the
validity of the income mortgage. The result
was the famous purchase by Gould of two
millions and half of the Kansas Pacific
income bonds at about ten cents on the dol
lar Gould retained Mr.. Andrews, prose
cuted the suit and, in the end, acquired the
control of that great highway. The hold
ers of the bonds had not thought very
highly of their security, but Jay Gould,
backed by an able lawyer, soon brought
them to a different frame of mind.
In another case big railroad wanted to
extend its line to some Western point
several hundred miles distant, and was
about to construct that mileage at a heavy
cost. Mr.. Andrews suggested to them an
alternative presenting an enormous saving.
He showed them on the map where the
purchase of the deprecated bonds of several
defaulted roads would give them control of
the greater part of the distance, requiring
the construction of only small mileage to
make their through connection.
The versatility and readiness of this class
of men is remarkable A few weeks ago the
executive authorities of the city of New
York obtained an opinion from the Corpo-
ration Counsel that the statutes of New York
prohibited the sale of wines with meals ON
Sundays to guests of hotels. The proprietors
of the Brunswick went to their lawyer one
evening and asked him for a post-prandial
opinion on their rights. They said that the
question involved an income of $150,000 a
year to tho hotels of New York city Mr..
Andrews read the opinion of Judge La
combe, and penciled off on the spur of the
moment an opposing view of the question
A few days afterwards the committee of
the hotel-keepers had it printed and cir
culated. 1t was published in the daily
papers, and some of them were inclined to
poke fun at what they deemed an over-re-
fined construction of the law. However,
the hotel association backed up their
counsel, and the result was unanimous
opinion of the General Term of the Su-
preme Court sustaining his Interpretation of
the law Guests of the hotel now rejoice in
a glass of wine with their dinner after the
deprivation of it for several successive
Sundays.
Just now a well-known New York lawyer
is engaged in an enterprise of public and
national character. He purposes to bring
about a settlement of State liabilities and is
backed in the undertaking by powerful
syndicate of bankers, with the wealthy
house of Morton, Bliss & Co. at their head.
The wonderful advance of the prosperity of
the Southern States has indicated that the
present is an opportune time for the efficient
handling of this subject.
Modern times have brought new devel-
opment of legal talent. From men of this
character many of our leading railroad
presidents are taken. James +. Day, of the
Michigan Central; John M. Walker, of the
Illinois Central; Franklin b. Gowen, of
the Reading railroad, and last but not
least, Chauncy NJ. Depew, were all practic-
ing railroad lawyers before they presided
over our great system of railroad transpor-
tation. The railroad lawyer is man of
enormous influence in the business world.